"A monarchy is the most expensive of all forms of government, the regal state requiring a costly parade, and he who depends on his own power to rule, must strengthen that power by bribing the active and enterprising whom he cannot intimidate"

This quote by James F. Cooper is referring to the expense of a monarchy as a type of federal government. He is stating that a monarchy is the most expensive type of federal government since it needs an expensive parade to maintain its regal state. He is also saying that a monarchy needs to depend on its own power to rule, and in order to do so, it needs to pay off those who are active and enterprising, as it can not frighten them. This quote is highlighting the expense of a monarchy and how it should use its power to keep its guideline. It is likewise emphasizing the value of bribing those who are active and resourceful, as it can not depend on intimidation alone.